At higher relative prices, the quantity supplied of a good will increase; at lower relative prices, smaller quantities will be supplied.

A Glossary of Political Economy Terms

Other things being held constant, the higher the price of a good (or service), the larger the quantity of that good (or service) that will be offered for sale in a particular time period. [See also: supply, supply curve, law of diminishing returns, marginal analysis, marginal productivity]

The law of supply is a fundamental principle of economic theory which states that, all else equal, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes. This means that producers are willing to offer more products for sale on the market at higher prices by increasing production as a way of increasing profits.